Discover the Benefits of Adding a Swimming Pool to Your Property
Adding certain outdoor home improvements, such as a swimming pool, can yield significant returns in the long run. A swimming pool not only enhances the value of your home, but it is also considered a capital improvement since it is a permanent fixture of the property. When you sell your home in the future, these types of enhancements can help reduce your taxes. Additionally, sales tax is typically not applicable to capital improvement projects, as confirmed by the Department of Taxation and Finance.
Under specific circumstances, the installation of a pool can also be tax deductible. If you can demonstrate that the pool was medically necessary, both the initial installation costs and ongoing maintenance expenses can be claimed as tax deductions, providing a financial benefit, according to IdealTax.
Considering a pool installation? Now is a great time to begin planning, but it may be advisable to wait until later in the year to commence construction. Fall is actually an optimal season for such projects. You might wonder why you should postpone pool construction until after the swimming season ends. Surprisingly, there are several compelling reasons why autumn is the perfect time to build a pool and undertake other outdoor renovations.
“Building a pool in the fall is a wise choice for homeowners,” notes Scott Rajeski, the president and CEO of Latham Group, a company specializing in in-ground pool installations. “With increased contractor availability, favorable building conditions, and the potential for off-season discounts, fall presents an ideal window for installation.”
Read on to discover the advantages of building a pool in the fall, as well as expert guidance on leveraging the season to your benefit.
Take Advantage of Off-Season Deals
Towards the end of the year, retailers are eager to clear out excess or soon-to-be-discontinued stock, giving you the opportunity to negotiate a favorable price. This timing also allows you to stagger construction expenses if you’re considering adding a patio or a fence around your pool. While you could pause between installing the pool and the deck in the warmer months, this would mean missing out on having both ready for peak swimming season. Splitting the project across fall and winter just makes more sense.
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